4. a. The officer charged with the duty of preparing the ballots for an election in which a proposition is to be submitted to the voters pursuant to subsection b. of R.S.40:54-8 or pursuant to subsection b. of section 7 of P.L.1959, c.155 (C.40:54-29.9) shall cause the proposition to be printed on the official ballots for such election in substantially the following form, as applicable.
(1)If the proposition is to increase the rate of the tax to annually be raised for the support of a free public library established pursuant to R.S.40:54-1 et seq.: "Shall the rate of the tax annually levied for the support of the free public library in ................ (name of municipality) be increased from ................ cents per $100 of assessed equalized value of real property to .................
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4. a. The officer charged with the duty of preparing the ballots for an election in which a proposition is to be submitted to the voters pursuant to subsection b. of R.S.40:54-8 or pursuant to subsection b. of section 7 of P.L.1959, c.155 (C.40:54-29.9) shall cause the proposition to be printed on the official ballots for such election in substantially the following form, as applicable. (1) If the proposition is to increase the rate of the tax to annually be raised for the support of a free public library established pursuant to R.S.40:54-1 et seq.: "Shall the rate of the tax annually levied for the support of the free public library in ................ (name of municipality) be increased from ................ cents per $100 of assessed equalized value of real property to ................. cents per $100 of assessed equalized value of real property?" (2) If the proposition is to reduce the rate of the tax to annually be raised for the support of a free public library established pursuant to R.S.40:54-1 et seq.: "Shall the rate of the tax annually levied for the support of the free public library in ................ (name of municipality) be reduced from ................ cents per $100 of assessed equalized value of real property to ................. cents per $100 of assessed equalized value of real property?" b. The officer charged with the duty of preparing the ballots for an election in which a proposition is to be submitted to the voters pursuant to subsection b. of R.S.40:54-8 shall also cause an accompanying explanatory statement to be printed on the official ballots for such election, which statement shall include the following, as applicable: (1) The minimum amount required to annually be raised by taxation for the support of the free public library pursuant to subsection a. of R.S.40:54-8; (2) The current amount annually raised by taxation for the support of the free public library if above the minimum amount required to annually be raised by taxation pursuant to subsection a. of R.S.40:54-8; (3) The proposed change in the amount to annually be raised by taxation for the support of the free public library; (4) The effect of the proposed change on the property taxes of a residential property assessed at the average assessed value of residential properties in the municipality; and (5) The length of time that a higher tax rate will be in effect, if applicable. L.2017, c.260, s.4.